Age UK Enterprises statement
Published on 09 February 2016 02:30 PM
Age UK Enterprises Statement
Age UK Enterprises Ltd, the trading arm of Age UK, Britain's leading charity for those in later life, has decided that it will temporarily suspend offering its 2 year fixed energy tariff to new and renewing customers.
The current tariff expires at midnight Wednesday 10 February and our partner E.ON has informed us that they cannot continue with the current 2 year fixed promotional tariff. This would mean we could no longer offer a market leading 2 year fixed tariff.
Age UK Enterprises launched its Fixed 2 Year tariff with E.ON in December 2013. At the time it was the leading nationally available tariff of its kind. It offered significant savings compared with other fixed 2 year tariffs as well as the standard variable tariffs which the majority of energy customers are on.
In a volatile energy market, it came with the reassurance of being fixed for longer than one year tariffs and also benefited from no cancellation fees, allowing customers to change without penalty at any time.
Age UK Enterprises is continuing discussions with E.ON to agree the best way forward.
Customers on existing Age UK Enterprises tariffs are unaffected by this move and can continue until their contract end date. All versions of the Age UK tariff have no exit fees meaning customers can switch at any point without incurring any charge.
Ian Foy, Managing Director of Age UK Trading said: "we always aim to give our customers outstanding value for money. This decision, prompted by the planned tariff changes, will give us the opportunity to review the current situation."
The claim that the current version of the Age UK tariff was the cheapest of its kind at launch is accurate. No product with a term of 24 months or greater was cheaper for typical dual fuel customers. No two year collective switch tariffs were available at time of launch to our knowledge.
Age UK Enterprises Limited is the trading arm of Age UK and donates its net profits to the charity.